• Clear out closets and clutter—sellers can give away or pack up toys, linens, and small kitchen appliances to store offsite. Buyers are also forgiving of storage boxes neatly tucked away in a garage or basement.
• Focus most on the most visible areas—the foyer, kitchen, living room, master bedroom, and family room.
• De-personalize the home by removing photos, mementos, and dated items.
• Use plants in colorful pots or inexpensive wicker baskets to fill in empty spaces.
• Look to home catalogs for little details on beautifying the home. For instance, group books, pictures, and objets d’art appealingly on bookcases.
• Try angling one or two pieces of furniture slightly and move furniture 4 inches to 6 inches from the wall to create more interesting room spaces.
• Put away large collections— porcelains, plates, and so on.
• Remove valuables, prescription medicine, collectibles, and breakables.
• Trim trees, prune shrubs, and make sure the lawn is mowed and watered regularly.
• In summer, turn on the sprinklers for five minutes, 30 minutes before the open house. It makes the lawn and driveway sparkle.
• Refrain from cooking anything that leaves a distinctive odor, such as fish, garlic, or cabbage.
• Hire a professional service to clean the home, including the carpets and the windows.
• Set the dining room table with attractive linens, dishes, and stemware.
• Arrange fresh or silk flowers throughout the home.
• Light a fire in the fireplace in fall and winter.
• A mirror in a pretty frame can make a small room feel more open.
• Use as much natural light as possible. Add extra lamps in dark rooms or corners.
• Make functional repairs—fix dripping faucets, sticking doors, and broken fences.
• Bring in another pair of eyes—even if it’s not a professional stylist. The person may see problems you and have missed.

 BUYER OF THE WEEK:   We have multiple buyers looking for investment property:

-Rental  property in the Boulder Area,

–One to 10 units,

-Price point $500k up to $2 million.

Call me at 303-402-6001 or email me at karenb@bernardirealestate.com if you have property for these buyers.

The article cites CU, the federal labs (NOAA, NIST, etc at the Department of Commerce labs and NREL) and the large number of small, entrepreneurial businesses in the area as factors in rating Boulder #4 on the list.   There are also a number of larger tech, biotech and energy related companies in the area and moving into the area (Conoco Phillips in Louisville for example).    The area’s reputation for a healthy lifestyle was also mentioned.   All positive factors for our area in the next 10 years.

With one quarter of 2010 behind us, how is our current Boulder real estate market?  The statistics give us some reason for optimism.   The number of homes sold in Boulder and most areas of Boulder County is up in the first quarter of 2010 compared to the homes sold in first quarter of 2009.    The only area where the number of homes sold declined was Longmont and the number there is very similar to the same period last year.

Prices show a little less clear trend.   Several areas show a modest increase in average price of homes sold – City of Boulder, Louisville, Longmont and in the mountains.   The other areas show some modest decline in the average price of homes sold.  

Overall, Boulder County home sales in all areas have shown improvement in some statistic – improved price, more homes sold or both.

The chart below shows the actual number of homes sold and average price – green means the number shows improvement.

In these difficult times, it can feel like there are nothing but bad choices.   However, some are not as bad as others.   If you are finding yourself having difficulty with keeping up with your payments you do have some choices.  

Short Sale:   Even if you are behind on your payments or don’t think you can sell your home for as much as you owe, we may still be able to help you sell our home and get out from under your loans.   A short sale is when you sell your home for less than the total amount you owe the lender(s).    The process can be arduous but you avoid a foreclosure and generally will face less negative consequences on your credit score.   We have successfully negotiated over 30 short sales and usually gotten the lenders to forgive the shortfall on the payoffs.  

We will help you through every step of the process.  The lenders generally require a couple years of tax returns, bank statements, and a letter explaining why the loan cannot be paid in full (a hardship letter).    

Foreclosure:   Foreclosure is when the bank actually goes through the process with the public trustee to sell a property at auction.   The process starts when the Public Trustee sends a Notice of Election and Demand.   From that point it can be as little as 120 days before the property is sold at auction.  Frequently the bank ends up with the property.    Even if the process has started, you may still be able to sell your home – if we can get an offer, most lenders will pause (forestall) the foreclosure proceedings, giving more time to complete the sale.

Foreclosure can a have significant effect on your credit score, ability to obtain loans, and even security clearances.

 For example:

–foreclosure will lower your credit score 250 to 300 points for 3 years while a short sale might only drop your score 50 points for 12 to 18 months (because of late payments),

–foreclosure will make a potential homeowner ineligible for some loans for 5 years while the short sale may only affect eligibility for 2 years.

Contact us today for more information!  Email: info@bernardirealestate.com  / Phone: 303-402-6000 / Website:  www.bernardirealestate.com

Take advantage of the homebuyer tax credit – not for just first time buyers

Time is running short for people to take advantage of the homebuyer tax credits.    There are two different credits – one for first time homebuyers that can be as much as $8000 and the other for other buyers that can be up to $6500.    These are TAX CREDITS not just deductions – you can reduce your tax bill by the credit amount.

To take advantage o the credits, you must have your new home under contract by April 30, 2010 and close by June 30, 2010.   There are some income limits for each credit (for first time buyers, the income limit for couples is $150,000 and for other buyers the couples limit is $225,000) and home price limits for move up buyers ($800,000) but not for first time buyers.

If you are thinking of buying this spring, start the process now – it can take some time to find the right home, negotiate a price and get your financing lined up.   We can help you find just the right home!!   We can also help you sell your current home if you might need to sell to buy.

Contact us today for more information!  Email: info@bernardirealestate.com  / Phone: 303-402-6000 / Website:  www.bernardirealestate.com

Karen Bernardi has been unanimously voted by the Intercambio de Comunidades board members to be Vice Chair of the organization.  Intercambio de Comunidades is an independent, non-profit organization founded in 2001 that works to build respectful communities and broaden opportunities for immigrants through language education, cultural exchange and friendship.

“The vice chair is selected by the board and typically serves two years as vice chair and then two years as the board chair.” Says Lee Shanis,   Executive Director of Intercambio de Comunidades, “Karen was selected to vice chair because she has been extremely dedicated to the organization and has worked incredibly hard to introduce new people to the organization and help with the organization’s development and expansion.”  Lee adds that Karen “brings a great energy and humor to meetings, is very reliable and friendly.  She embodies the Intercambio values of learning, respect, community and fun.  Karen has exceeded all of our expectations by being an amazing board member, and she was unanimously voted to be vice chair.  Karen has helped put on several events; she helps with the Fiesta committee and serves on the finance committee.  We need more Karen Bernardi’s in the world!”

The Bernardi Real Estate Group has been assisting buyers and sellers of residential real estate in Boulder County for over 26 years.  Since 2005, The Bernardi Real Estate Group has been recognized every year by Coldwell Banker as the #1 team in Colorado.  For more information visit www.bernardirealestate.com

The home buyer tax credit has been extended until April 30th, 2010, & expanded to include home owners as well as first time home buyers. First time home buyers can receive up to $8,000 tax credit and folks who already own can receive up to $6,500 if you buy before April 30th, 2010.

#2 Mortgage Rates Are Low, for a Limited Time!

With a decent credit score (620 or higher) and a steady job, you can get an FHA home loan with as little as 3.5% of the purchase price as a down payment. That down payment can be a gift from a non-profit or a relative. Rates can be as low as 5% fixed for 30 years for qualified buyers. The Federal Government has already announced that they will discontinue purchasing mortgage-backed securities, therefore we anticipate rates will rise.

#3   Boulder Property Prices at a 2 Year Low!

There are a lot of properties to choose from as the inventory is high and prices are very competitive.  Even if home prices continue to drop a little more in late 2010, it’s better to buy now while the loan rates are so attractive, and you can take advantage of the tax credits.

The Bernardi Group can help you decide if now might be the right time for you to buy a new home or condo, and we’ll help you get the best deal possible!

Call the Bernardi Real Estate Group for more information about the current housing market in Boulder County.

We look forward to working with you.

Sincerely,

Karen Bernardi

The Bernardi Real Estate Group
www.bernardirealestate.com
303-402-6000

Along with interviews from other realtors and local investors, Karen was quoted in the article saying
“You can always buy an awful home at a steal. But you can’t steal a good house – other people will want it. You might think you’re stealing something, but it might not be a good buy when you go to sell it.” She advises buyers to hire an experienced real estate broker to help them study the market. “It’s a huge investment,” she added.

Click here to see the full article.

The tax credit amount can be up to $8,000 for first time home buyers and up to $6,500 for current home owners who decide to move. The amount is determined by the price of the house and by the purchaser’s income. The tax credit applies for homes purchased up to $800,000. There are plenty of Boulder homes for sale in this price range.

As a current home owner, you can qualify for the tax credit if you have lived in the house you now own for at least five consecutive years within the past eight years. Even if you’ve owned property in the past you may still qualify as a first time home buyer if you have not owned your primary residence for the past three years. Call The Bernardi Group to get an honest home evaluation to see what your Boulder County home could sell for today, and what else is available for you in and around Boulder.

The National Association of Realtors reports that since the enactment of the original First Time Home Buyer’s Tax Credit, over 40% of all sales activity so far this year can be attributed to the tax incentive. Now that the Tax Credit is extended to give more time, and expanded to include more people, the outlook is very hopeful that this will help stimulate the housing market in Boulder and the Nation significantly. Let’s just see how long these great interest rates will hold. Right now is the best time to buy, and if you need to sell it’s a good time to capture the increased number of buyers out there due to the tax incentives and low interest rates.

Contact us today if you or anyone you know needs real estate help….
Email: info@bernardirealestate.com / Phone: 303-402-6000 / Website: www.bernardirealestate.com

You should know, and share with anyone who needs to know, that a home owner can avoid a foreclosure if they act quickly.  At the Bernardi Real Estate Group, we’ve helped many home owners this year avoid foreclosure by negotiating a short sale for them.  Some people just don’t understand the detrimental effects of foreclosures, or are afraid of considering a short sale beacuse they think it will cost them more money.  We’d like to dispell some of the myths, and clarify how we can help.  Here are some facts that show the benefits of a short sale compared to a foreclosure:

                                  Foreclosures:                                Short Sales:

Call us today if you or anyone you know needs help selling or buying real estate in the Boulder or Broomfield area:  303-402-6000 

 or email us at info@bernardirealestate.com

For more information about short sales vs. foreclosures visit:

http://homebuying.about.com/od/foreclosures/f/072509_Short-Sale-vs-Foreclosure.htm